Boettke on Public Policy

quoteseconomicssocial cooperation

15 Jul 2014

Peter Boettke on social cooperation:

Social cooperation which yields productive specialization and is guided by free exchange even among anonymous and distant (geographically and even socially) actors is among the central mysteries that economic analysis is equipped to unlock. Such coordination of economic activities through time is a puzzle, the role of economic self-interest within a framework of private property and freedom of contract, and the guiding role of relative prices and profit-and-loss accounting provide the solution to that puzzle.